Our Approach to Innovation
“At DBS, innovation is not limited to the technology we use; it’s embedded in our DNA. It’s reflected in the way we work and the customised solutions we create for our clients.”
- Piyush Gupta, CEO and Director of DBS GroupHow Have We Innovated?
1974
Launched Singapore’s first ATM
1975
Financed the development of Plaza Singapura, the country’s first multi-storey shopping mall and pioneered the foreign anchor tenant concept with Yaohanm
1980
DBS Autosave is introduced as Singapore’s first interest-bearing current account.
1985
Propelled Singapore Airlines onto the global market by being the lead manager for their IPO, the first international offering for a locally incorporated company
1985
Pioneered the NETS system and now boasts the largest network of ATMs amongst commercial banks in Singapore.
1986
Financed the development of Raffles City, paving the way for Singapore to be a leading convention and exhibition destination.
1993
Introduced electronic share application through ATMs
1997
Introduced Singapore’s first internet banking platform, revolutionising the local banking scene.
2001
Introduced micro-loans for local start-ups and SMEs
2002
Launched the first REIT in Asia ex-Japan
2010
Introduced DBS’ suite of mobile banking apps, changing the way consumers bank on-the-go.
2014
First Asian bank to pilot the use of artificial intelligence, as well as launch Singapore’s first mobile wallet.
2015
First in Singapore to incorporate hackathons into our talent development programme.
2016
Introduced digibank, India’s first paperless, signatureless, branchless, mobile-only bank
DBS Innovation Initiatives
Innovation is a mindset that pervades everything we do at DBS. It means constantly relooking at the way we’re doing things. We do so because that is what helps us to be relevant, so we can constantly deliver solutions that help our customers live more.
Consumer Banking
DBS Digibank
India
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Launched in 2016,DBS Digibank is India’s first mobile-only bank.
This revolutionary break through is:
- paperless
- signatureless
- branchless
Credit Card
Application
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In 2015, almost 38% of new credit card sign-ups in Singapore came through digitally.
- 2015 38%
- 2014 27%
DBS
Remit
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Transactions have grown from 320,00 three years ago to almost 2.1 million remittances in 2015.
remittance
DBS
Omni
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Hong Kong’s first-of-its-kind credit card app that offers customers access to credit card summaries, transaction history, statements and credit limit at a glance
DBS
PayLah!
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Innovative mobile wallet app that allows customers to transfer money instantly and conveniently to anyone, even non-dbs customers, using the recipient’s mobile number.
over 300000 users
Wealth Management
DBS
iWealth
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An all-in-one digital wealth management platform with powerful customisable features and services that allow customers to manage their wealth and stay updated on market trends while on the go.
Institutional Banking
DBS Business
Class
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An online social network for SMEs, launched in end 2014. The programme connects business owners with opportunities and latest market news.
20 networking events
400 converstations
1500 SMEs
Digital Account
Opening
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51% of SME customers in Singapore opened their accounts online through our Online Account Opening Service.
opening
in Singapore
DBS
IDEAL
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Available on desktop, tablet and mobile for our corporate banking customers. The app allows them to check account balances and cheque status as well as create and approve payments
300 million SGD worth of
3200 monthly transactions
Society
DBS
Foundation
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AsiaForGood.com by DBS Foundation is an online platform that connects the digitally-savvy consumer to social enterprises and empowers people to make informed choices about the way they live and buy.
250 social enterprises200 converstations
4500 visitors
DBS
HOTSPOT
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Designed to cultivate entrepreneurship in Singapore through experimentation, mentorship and training. The intensive 2+4 month programme aims to help aspiring entrepreneurs turn ideas into action, and make the impossible, possible.
20 Start-ups accelerated
500000 SGD worth of Entrepreneur Award
Employees
DBS
Academy
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A strong commitment to future proof our employees
3 centres in SG, ID & TW
129000 training days 2015
15000 training sessions/yr
DBS
Hackathons
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An initiative across the region to tackle issues using emerging technology such as blockchain. The first bank in Asia to incorporate hackathons into our talent development programme.
1000 experiments in 2015
UNI.CORN
more infoA programme to reinvent internships for university students in Singapore. Instead of a conventional internship, students will be empowered to solve business challenges.
Awards
World's Best Digital Bank
Most Disruptive CIO Global (ex-US), Neal Cross
Best Private Bank for Innovation
Digital Distribution
Global Innovator (Silver)
Best Innovation in the Banking Industry
Best Technology & Operations, Singapore
Digital Innovation (Excellence)
Best Recruitment Innovation By An In-House Recruitment Team (Gold)
Excellence in Business Model Innovation - DFNO
Speech Analytics Technology